Clearing System

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Electronic Clearing System: E-clearing:A set-off by using electronic record and scanned image of a check.

Drawer: Account holder issuing a check.

Drawee Bank: The bank whose name appears on the check and in which the drawer holds an account linked to a check issued.

Payee/Beneficiary: A natural or legal Party to whom a check is made payable.

Payee/Beneficiary Bank: The bank submitting a check for set-off through E-Clearing System.

1- Controls on Cleared Checks:

1-The date should be written in figures on the check in a full and accurate manner as the date is deemed a fundamental element of the check.

2-The bank should not accept the check, which contains two places for the date.

3-All banks should not conduct any erasure,alteration or cancellation on the checks submitted for collection and should return them, unaltered, to the customer along with a paper indicating the reason for return.

4- In the event where the amount of the check is written in figures and letters, the amount written in letters shall prevail in case of dispute (Trading Act No. 27/2006, with effect from 13/05/2007)

2- Number of times for a check to bounce :

It has been decided that the check may bounce three times at most , for any reason whatsoever and the QCB will collect a fee of QR 5 on each bouncing check .

3- Checks accepted through clearing :

- Qcb accepts the trade and settlement of checks issued by banks to their customers , as well as the Government checks through clearing , however , it does not accept the trade and settlement of private checks .

- QCB will conduct a documentary review of the checks submitted for clearing to make sure they do not include private non-exempt checks .

- Profit coupons , payment orders and checks that do not meet standard specifications , issued by charities, cooperatives and government and semi-government institutions shall not be accepted . All banks should quickly inform their customers of these instructions to take the necessary procedures to print checks bearing the above-mentioned specifications , with the exception of government checks and deferred private checks .

-The statements sent by banks to Qatar Central Bank, which include data on the checks in their possession or in the possession of their customers constitute the basis in determining the private and deferred checks excluded from these instructions .